Thursday 28 Mar 2024
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KUALA LUMPUR (April 13): Willowglen MSC Bhd announced today that its wholly-owned subsidiary, Willowglen Services Pte Ltd, has been awarded two contracts worth a collective RM9 million from Singapore’s Public Utilities Board.  

In a filing with Bursa Malaysia today, Willowglen (fundamental: 3; valuation:0.9) said the first contract, valued at RM3.65 million, was for the supply, installation and commissioning of pressure and water quality sensors.

It said the commencement date of the contract is on April 27 this year, and will be completed by Feb 26 next year.

"The contract is expected to contribute positively to the group's earnings and net assets per share for the financial year ending Dec 31, 2015 (FY15)," it added.  

Meanwhile the second contract, valued at RM5.354 million, is for the maintenance of the earlier pressure and water quality sensors.

According to the group, the job will begin from Feb 27, 2016 and will last until Feb 26, 2021.  

"The contract is expected to contribute positively to the group's earnings and net assets per share for the financial years ending Dec 31, 2016 to Dec 31, 2020," it added.  

The group said both contracts are not renewable.  

Willowglen is a company involved in the provision of remote terminal units and software that provides telemetry, real-time motion video images and integration of various business systems.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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